BAKU, Azerbaijan, Dec. 9
By Fakhri Vakilov - Trend:
At the meeting of the Legislative Chamber of Uzbekistan Parliament on December 9, in the second reading, the deputies considered the draft law "On Special Economic Zones (SEZ)", Trend reports citing the press service of the parliament.
This bill was adopted in first reading at a meeting of the lower house of parliament on November 26 this year. In preparation for the second reading of the bill, the working group considered each proposal and analyzed them.
So, the content of the bill has been expanded. In order to ensure implementation of the effective activities of SEZs, article 6 has been introduced into the bill, which provides for the formation for each year of Uzbekistan's development programs for financing the activities of special economic zones and programs aimed at this.
The original version of the draft law provided for the application of value added tax to participants in special economic zones. Taking into account the justified comments made by the deputies, exemptions are now introduced for the participants in the SEZ when paying VAT.
Moreover, a separate article on the special economic zone Navoi was excluded from the draft law. As the deputies explained, the reason for this was the fact that the SEZ did not provide individual exemptions, benefits, and it does not have any individual properties.
After an article-by-article review of the bill “On Special Economic Zones”, deputies adopted it in the second reading.
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